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Macy’s, Inc. Same-Store Sales Up 4.1% In December

Stocks in this article: M

Macy’s, Inc. (NYSE: M) today reported total sales of $5.102 billion for the five weeks ended Dec. 29, 2012, an increase of 3.6 percent compared with total sales of $4.923 billion in the five weeks ended Dec. 31, 2011. On a same-store basis, Macy’s, Inc. sales were up 4.1 percent in December as compared to December 2011.

Same-store sales increased by 2.5 percent for November and December 2012 combined as compared to the same period in 2011.

“Last month was our fourth consecutive December with same-store sales growth, which is indicative of the sustainability of our key business strategies,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. “While the rate of growth was somewhat less than we had expected in the first two months of the fourth quarter, it came amid some significant headwinds from uncertain economic news and the lingering effects of Hurricane Sandy. All said, we are proud of our accomplishments in driving growth this holiday season and we believe we continued to gain market share.

“In particular, we are pleased with the significant progress we made this holiday season in implementing our Omnichannel initiatives through a period of high sales volume. Our new process for satisfying store and online orders through both our online fulfillment centers and fulfillment stores led us to make better use of our inventories and drive sales that otherwise would have been lost when we ran out of stock locally in certain items,” Lundgren said.

(Editor’s Note: Macy’s, Inc. this morning also issued a separate news release announcing normal-course adjustments to the company’s stores portfolio.)

For the year to date, Macy’s, Inc. sales totaled $25.887 billion, up 3.3 percent from total sales of $25.068 billion in the first 48 weeks of 2011. On a same-store basis, Macy’s, Inc.’s year-to-date sales were up 3.3 percent.

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